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Youve just opened a margin account with $15,000 at your local brokerage firm. You instruct your broker to purchase 1,000 shares of Landon Golf stock,
Youve just opened a margin account with $15,000 at your local brokerage firm. You instruct your broker to purchase 1,000 shares of Landon Golf stock, which currently sells for $22 per share. 1. What is your initial margin? (Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.) Initial margin % 2. Construct the equity account balance sheet for this position. (Omit the "$" sign in your response.) Assets Liabilities and account equity 1,000 shares $ Margin loan $ Account equity Total $ Total $
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